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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Changes in Number of Common Shares Underlying Options

The following table summarizes the changes in the number of common shares underlying options for 2022 (shares in whole numbers and per share values in whole dollars):

 

 

 

Shares

 

 

Weighted-Average Exercise Price

 

 

Weighted-Average Remaining Contractual Term
(in Years)

 

 

Aggregate Intrinsic Value

 

Outstanding at December 31, 2020

 

 

162,500

 

 

$

11.50

 

 

 

 

 

 

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Forfeited

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

162,500

 

 

$

11.50

 

 

 

2.8

 

 

$

1

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

(37,500

)

 

 

11.50

 

 

 

 

 

 

 

Forfeited

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

125,000

 

 

$

11.50

 

 

 

1.8

 

 

$

1

 

Exercisable at December 31, 2022

 

 

125,000

 

 

$

11.50

 

 

 

1.8

 

 

$

1

 
Time-based Restricted Stock Units [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Changes in Number of Outstanding RSUs and PSUs The time-based RSUs granted to the Company’s directors vest at the end of the anniversary date of their grant date.

 

 

 

Time-Based
Restricted
Stock Units

 

 

Weighted-Average
Grant Date Fair
Value Per Share

 

 

Weighted-Average
Remaining
Contractual Term
(in Years)

 

Outstanding at December 31, 2021

 

 

761,126

 

 

$

13.23

 

 

 

1.2

 

Granted

 

 

509,748

 

 

 

19.41

 

 

 

 

Vested

 

 

(466,235

)

 

 

12.48

 

 

 

 

Forfeited

 

 

(77,006

)

 

 

14.11

 

 

 

 

Outstanding at December 31, 2022

 

 

727,633

 

 

$

17.95

 

 

 

0.9

 

Expected to vest at December 31, 2022

 

 

709,741

 

 

$

17.92

 

 

 

0.9

 

 
Performance-Based Restricted Stock Units [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Changes in Number of Outstanding RSUs and PSUs During the year ended December 31, 2022, the Company approved and granted PSUs with EBITDA-based financial performance conditions. PSUs vest, if at all, following a three-year performance period. If the performance conditions are not met, no compensation cost is recognized and any recognized compensation cost is reversed.

 

 

 

Performance-
Based Restricted
Stock Units

 

 

Weighted-Average
Grant Date Fair
Value Per Share

 

 

Weighted-Average
Remaining
Contractual Term
(in Years)

 

Outstanding at December 31, 2021

 

 

552,329

 

 

$

19.12

 

 

 

2.0

 

Granted

 

 

542,223

 

 

 

20.77

 

 

 

 

Vested

 

 

—

 

 

 

—

 

 

 

 

Forfeited

 

 

(102,293

)

 

 

19.50

 

 

 

 

Change in units based on performance expectations

 

 

(133,902

)

 

 

19.50

 

 

 

 

Outstanding at December 31, 2022

 

 

858,357

 

 

$

20.06

 

 

 

1.5

 

Expected to vest at December 31, 2022

 

 

820,826

 

 

$

20.04

 

 

 

1.5

 
Market-Based Restricted Stock Units [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Valuation Assumptions The key assumptions used in valuing these market-based awards were as follows:

 

Risk-free interest rate

 

 

1.85

%

Dividend yield

 

 

—

 

Expected volatility

 

 

45

%